Nigeria produced 1.4 million bpd of oil in August 2023

Nigeria produced 1. 4 million barrels of crude oil per day, according to data from the Nigerian Upstream Petroleum Regulatory Commission.

The Times reported that the figures show that in August, the production of crude oil was 1,181,133 barrels per day, the production of blended condensates was 49,306, and the production of unblended condensates was 184,225 barrels per day. For August 2023, all of these add out to 1,414,664 barrels per day.

It is significant to note that the country produced 1,303,428 barrels of oil per day in July 2023, which included both crude oil and condensates.

The figures supplied for the month of August 2023 show that the country’s crude oil terminals largely recorded increases, and a few decreases.

In August, Bonny produced 3.9 million barrels, up from the 2.3 million barrels noted in July 2023. 868,654 barrels of brass were registered, down from 987,114 in July 2023.

In the same month, Qua Iboe measured 4.6 million barrels, up from the 4.1 million barrels measured in July. In contrast to the 3.2 reported the month prior, Forcados recorded 4.4 million.

Escravos, meanwhile, registered 4.7 million, down from 4.8 million the month prior.

According to a recent Platts poll, the Organization of Petroleum Exporting Countries members’ oil production increased in August 2023 as a result of Nigeria’s crude oil production.

The poll found that overall crude oil production rose by 120,000 barrels per day in August, according to the survey results.

This growth was mostly driven to significant increases in output from Iran, Iraq, and Nigeria and the increase was able to exceed the further restrictions imposed by Saudi Arabia and Russia.

The Group Chief Executive Officer at Nigerian National Petroleum Company Limited, Mele Kyari, stated on Friday, September 1, 2023, that the nation was currently producing 1.67 million barrels of petroleum per day based on the statistics made available to him.

He claimed that the rise in crude production was caused by the president’s initiatives.

He said, “I was just looking at the numbers for Wednesday for crude oil and condensate output. It is at 1.67 million barrels per day. This is huge if you look at the circumstances where we were almost dropping below a million barrels per day around a year and some months ago.

“I can also attest that Mr. President has made considerable efforts to open up the market so that these resources can be put in place. Tax reform is one among them.”